Café Amazon

Thailand’s PTT Group Cafe Amazon owns the Largest Coffee Franchise in Southeast Asia, Ranking 6th in The World. But is it Burning Cash? PTT opened Café Amazon next to their fuel stop on Vibhavadi Rangsit Road in 2002. It was an air-conditioned, green jungle that served coffee. After PTT mandated its franchisees by contract to open a Café Amazon at their fuel stops, it finally gained customer appeal, kicking off to 1,000 stores by 2010 and leading to expansions in Cambodia, Laos, and Myanmar. In February 2021, they listed on the SET under 'OR' valuing the company at $11B. While pandemic lockdowns hit hard on travel, foot traffic, and consumer spending across the entire retail industry. PTT OR didn't slow down. It kept expanding. Using the $1.57B raised during the IPO, they built new stores to hit annual targets and after 3 years of decline, they opened 300+ stores a year while doubling down on Oman, Bahrain, Philippines and Laos. With investor promises seemingly more important than its operating costs, we'll have to see if Café Amazon can last.